Civic Intelligence

Korner Homes Inc.

990 • Fiscal year 2015 • EIN 58-1394455

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 27, 2015

750 Bethesda RoadWinstonsalem, NC 27103

(336) 765-3906

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

1.68x

Higher debt load relative to assets than 93% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

62nd percentile

4.06x

Higher debt load relative to revenue than 62% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Net Margin

68th percentile

4.6%

Higher net margin than 68% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • NTEE L • $1M-$5M nonprofits • Source year 2015

Asset Growth

61st percentile

-1.2%

Faster asset growth than 61% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

49th percentile

1.4%

Faster revenue growth than 49% of similar nonprofits.

2015 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,632,415

Down $19,010 (-1.2%) from 2014

Net Assets

Up

-$1,103,857

Up $31,115 (+2.7%) from 2014

Liabilities

Down

$2,736,272

Down $50,125 (-1.8%) from 2014

Revenue

Up

$674,053

Up $9,552 (+1.4%) from 2014

Expenses

Down

$642,938

Down $19,041 (-2.9%) from 2014

Net Income

Up

$31,115

Up $28,593 (+1134%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$2.0M$0-$2.0MAssets 2011: $1,841,517Liabilities 2011: $2,867,440Net Assets 2011: -$1,025,9232011Assets 2012: $1,723,067Liabilities 2012: $2,856,972Net Assets 2012: -$1,133,9052012Assets 2013: $1,669,171Liabilities 2013: $2,806,665Net Assets 2013: -$1,137,4942013Assets 2014: $1,651,425Liabilities 2014: $2,786,397Net Assets 2014: -$1,134,9722014Assets 2015: $1,632,415Liabilities 2015: $2,736,272Net Assets 2015: -$1,103,8572015Assets 2016: $1,601,297Liabilities 2016: $2,674,441Net Assets 2016: -$1,073,1442016Assets 2017: $1,643,059Liabilities 2017: $2,678,354Net Assets 2017: -$1,035,2952017Assets 2018: $1,581,179Liabilities 2018: $2,560,475Net Assets 2018: -$979,2962018Assets 2019: $1,556,417Liabilities 2019: $2,518,186Net Assets 2019: -$961,7692019Assets 2020: $1,557,835Liabilities 2020: $2,469,773Net Assets 2020: -$911,9382020Assets 2021: $1,490,003Liabilities 2021: $2,380,638Net Assets 2021: -$890,6352021Assets 2022: $1,445,536Liabilities 2022: $2,295,575Net Assets 2022: -$850,0392022Assets 2023: $1,440,247Liabilities 2023: $2,200,452Net Assets 2023: -$760,2052023Assets 2024: $1,489,780Liabilities 2024: $2,123,758Net Assets 2024: -$633,9782024Assets 2025: $1,585,499Liabilities 2025: $2,051,489Net Assets 2025: -$465,9902025

Highlighted filing

2015

Assets$1,632,415
Liabilities$2,736,272
Net Assets-$1,103,857

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $635,163Expenses 2011: $727,509Net Income 2011: -$92,3462011Revenue 2012: $647,776Expenses 2012: $755,758Net Income 2012: -$107,9822012Revenue 2013: $652,657Expenses 2013: $656,246Net Income 2013: -$3,5892013Revenue 2014: $664,501Expenses 2014: $661,979Net Income 2014: $2,5222014Revenue 2015: $674,053Expenses 2015: $642,938Net Income 2015: $31,1152015Revenue 2016: $671,603Expenses 2016: $640,890Net Income 2016: $30,7132016Revenue 2017: $688,893Expenses 2017: $651,044Net Income 2017: $37,8492017Revenue 2018: $702,774Expenses 2018: $646,775Net Income 2018: $55,9992018Revenue 2019: $695,849Expenses 2019: $678,322Net Income 2019: $17,5272019Revenue 2020: $710,360Expenses 2020: $660,529Net Income 2020: $49,8312020Revenue 2021: $750,120Expenses 2021: $728,817Net Income 2021: $21,3032021Revenue 2022: $757,095Expenses 2022: $716,499Net Income 2022: $40,5962022Revenue 2023: $775,589Expenses 2023: $685,755Net Income 2023: $89,8342023Revenue 2024: $785,494Expenses 2024: $659,267Net Income 2024: $126,2272024Revenue 2025: $831,351Expenses 2025: $663,363Net Income 2025: $167,9882025

Highlighted filing

2015

Revenue$674,053
Expenses$642,938
Net Income$31,115
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 27, 2015
Return Version
2014v5.0
Gross Receipts
$674,053
Mission and Program Overview

Mission

Develop and operate hud section 202 housing for the elderly.

Own and operate an 80 unit apartment complex for the elderly under section 207/223(f) of the national housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,199,436$1,153,373▼ $46,063
Savings and Temporary Cash Investments$248,865$267,445▲ $18,580
Intangible Assets$123,175$118,669▼ $4,506
Cash and Non-Interest-Bearing Accounts$34,515$33,461▼ $1,054
Prepaid Expenses and Deferred Charges$15,947$31,338▲ $15,391
Accounts Receivable$4,447$3,297▼ $1,150
Total Assets$1,651,425$1,632,415▼ $19,010
Other Assets Total$25,040$24,832▼ $208
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,704,082$2,665,049▼ $39,033
Accounts Payable and Accrued Expenses$56,749$45,495▼ $11,254
Other Liabilities$25,040$24,832▼ $208
Deferred Revenue$526$896▲ $370
Total Liabilities$2,786,397$2,736,272▼ $50,125
Net Assets / Fund Balance
Unrestricted Net Assets$-1,134,972$-1,103,857▲ $31,115
Total Net Assets Fund Balance$-1,134,972$-1,103,857▲ $31,115
Total Liabilities and Net Assets / Fund Balance$1,651,425$1,632,415▼ $19,010

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$747,969$1,619,088$2,367,057
Other Land Buildings$223,692$160,720$384,412
Equipment$11,150$365,644$376,794
Land$170,562-$170,562
Compensation and Service Providers

Board Members and Trustees

NameTitle
Robert Sanders JrPresident
Craig PeatrossVice President
Bill BoardDirector
Dr Frank S CelestinoDirector
Joycelyn V JohnsonDirector
John NicholsAsst. Secretary/ Asst VP
Mallory OatesSecretary
Tammy VernonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$484,569
Program Service Revenue
$189,250
Investment Income
$234
Other Revenue
$0
Change in Net Assets
$31,115

Audited Revenue Reconciliation

Revenue per Audited Statements
$674,053
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$674,053
Total Revenue per Form 990
$674,053
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$642,938
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$165,281--$165,281
Depreciation Depletion$84,537--$84,537
All Other Expenses$68,045$5,960-$74,005
Fees for Services Management$44,584--$44,584
Other Expenses$38,667--$38,667
Insurance$34,202--$34,202
Office Expenses$19,672--$19,672
Occupancy$13,070--$13,070
Fees for Services Accounting-$5,076-$5,076
Conferences and Meetings$1,143--$1,143
Fees for Services Legal-$933-$933
Advertising$28--$28
Total Functional Expenses$630,969$11,969$0$642,938

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$642,938
Total Expenses per Audited Statements$642,938
Total Expenses per Form 990$642,938
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$24,832
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The tax return is reviewed by the director of finance of the management company and signed by the assistant vice president of the owner. Both individuals report to the board of directors (governing body).

Form 990, Part VI, Section B, Line 15

Compensation, including potential annual increases for all officers and key employees are discussed and approved by an executive committee of the board members and the organization's ceo.

Form 990, Part VI, Section C, Line 19

The organization has no written conflict of interest policy. Governing documents, financial statements and other pertinent information are provided to the public upon request.

Filing and Contact Details

Filer

Filer Name
Korner Homes Inc
EIN
58-1394455
Phone
3367653906
Address
750 BETHESDA ROAD, WINSTONSALEM, NC 27103
Doing Business As
Koerner Place

Signing Officer

Name
John Nichols
Title
Assistant Vice President
Phone
3367653906
Signed
2015-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Nichols
Formed
1980
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
8

Preparer

Firm
Bernard Robinson & Company Llp
Address
PO BOX 19608, GREENSBORO, NC 27419-9608
Preparer
Rhonda F Skiles
Phone
3362944494
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Supplies: program service expenses 16,128. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,128. Office salary reimbursement: program service expenses 12,784. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,784. Mortgage insurance premiums: program service expenses 12,073. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,073. Payroll tax reimbursement: program service expenses 8,691. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,691. Garbage and trash removal: program service expenses 6,096. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,096. Misc. Administrative expenses: program service expenses 0. Management and general expenses 5,960. Fundraising expenses 0. Total expenses 5,960. Misc. Operating expenses: program service expenses 5,329. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,329. Vehicle repairs & maintenance: program service expenses 2,594. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,594. Snow removal: program service expenses 1,750. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,750. Bad debts: program service expenses 1,318. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,318. Repairs & maintenance: program service expenses 917. Management and general expenses 0. Fundraising expenses 0. Total expenses 917. Other renting expenses: program service expenses 276. Management and general expenses 0. Fundraising expenses 0. Total expenses 276. Misc. Financial: program service expenses 89. Management and general expenses 0. Fundraising expenses 0. Total expenses 89.

Financial Statement Notes

PART X, LINE 2:

It is the corporation's policy to evaluate all tax positions to identify any that may be considered uncertain. All identified material tax positions are assessed and measured by a 'more-likely-than-not' threshold to determine if the tax position is uncertain and what, if any, the effect of the uncertain tax position may have on the financial statements. No material uncertain tax positions were identified for 2015.

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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt015947
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt031338
IRS990/PrincipalOfficerNm0JOHN NICHOLS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENTAL PAYMENTS
IRS990/ProgramServiceRevenueGrp/Desc1TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0188876
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1374
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0188876
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1374
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0482063
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0232
IRS990/PYOtherExpensesAmt0661979
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0182206
IRS990/PYRevenuesLessExpensesAmt02522
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0661979
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0664501
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt031115
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0189250
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0248865
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0267445
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0484569
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0482063
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0966632
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0234
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0232
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0216
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0234
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0338
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01254
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0189250
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0182206
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0652441
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0647542
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0634825
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02306264
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0234
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0232
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0216
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0234
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0338
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01254
IRS990ScheduleA/InvestmentIncomeCYPct00.00040
IRS990ScheduleA/InvestmentIncomePYPct00.00040
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99960
IRS990ScheduleA/PublicSupportPY509Pct00.99960
IRS990ScheduleA/PublicSupportTotal509Amt03272896
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0673819
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0664269
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0652441
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0647542
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0634825
IRS990ScheduleA/Total509Grp/TotalAmt03272896
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0674053
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0664501
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0652657
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0647776
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0635163
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03274150
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0747969
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01619088
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02367057
IRS990ScheduleD/EquipmentGrp/BookValueAmt011150
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0365644
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0376794
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0642938
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0170562
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0170562
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0223692
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0160720
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0384412
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024832
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0674053
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IT IS THE CORPORATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A 'MORE-LIKELY-THAN-NOT' THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01153373
IRS990ScheduleD/TotalExpensesPerForm990Amt0642938
IRS990ScheduleD/TotalLiabilityAmt024832
IRS990ScheduleD/TotalRevenuePerForm990Amt0674053
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0674053
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0642938
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURN IS REVIEWED BY THE DIRECTOR OF FINANCE OF THE MANAGEMENT COMPANY AND SIGNED BY THE ASSISTANT VICE PRESIDENT OF THE OWNER. BOTH INDIVIDUALS REPORT TO THE BOARD OF DIRECTORS (GOVERNING BODY).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION, INCLUDING POTENTIAL ANNUAL INCREASES FOR ALL OFFICERS AND KEY EMPLOYEES ARE DISCUSSED AND APPROVED BY AN EXECUTIVE COMMITTEE OF THE BOARD MEMBERS AND THE ORGANIZATION'S CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS NO WRITTEN CONFLICT OF INTEREST POLICY. GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND OTHER PERTINENT INFORMATION ARE PROVIDED TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SUPPLIES: PROGRAM SERVICE EXPENSES 16,128. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,128. OFFICE SALARY REIMBURSEMENT: PROGRAM SERVICE EXPENSES 12,784. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,784. MORTGAGE INSURANCE PREMIUMS: PROGRAM SERVICE EXPENSES 12,073. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,073. PAYROLL TAX REIMBURSEMENT: PROGRAM SERVICE EXPENSES 8,691. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,691. GARBAGE AND TRASH REMOVAL: PROGRAM SERVICE EXPENSES 6,096. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,096. MISC. ADMINISTRATIVE EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,960. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,960. MISC. OPERATING EXPENSES: PROGRAM SERVICE EXPENSES 5,329. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,329. VEHICLE REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 2,594. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,594. SNOW REMOVAL: PROGRAM SERVICE EXPENSES 1,750. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,750. BAD DEBTS: PROGRAM SERVICE EXPENSES 1,318. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,318. REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 917. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 917. OTHER RENTING EXPENSES: PROGRAM SERVICE EXPENSES 276. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 276. MISC. FINANCIAL: PROGRAM SERVICE EXPENSES 89. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 89.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd30
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd40
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd50
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd60
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd70
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd80
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd90
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd100
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd110
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd120
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd130
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd140
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd150
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd160
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd170
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd180
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd190
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd210
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd220
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NORTH CAROLINA HOUSING FOUNDATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1GOLER PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2GLADSTONE HOUSING INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3GRANVILLE PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4GRANVILLE PLAZA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt5HUNTERS HILL INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt6LEGACY PLACE OF CATAWBA VALLEY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt7MOCK PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt8MOUNTAIN PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt9TYRO SCHOOL APARTMENTS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt10EAST SALEM APARTMENTS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt11EAST SALEM HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt12VHVH INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt13MILLBROOK HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt14NCAL - MOCKSVILLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt15NCAL - CHERRYVILLE

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$2.05$0.47$0.83$0.66$0.17
2024Detailed filing. Detailed filing data is available for this year.$1.49$2.12$0.63$0.79$0.66$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.44$2.20$0.76$0.78$0.69$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.45$2.30$0.85$0.76$0.72$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.49$2.38$0.89$0.75$0.73$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.56$2.47$0.91$0.71$0.66$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.56$2.52$0.96$0.70$0.68$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.58$2.56$0.98$0.70$0.65$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.64$2.68$1.04$0.69$0.65$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.60$2.67$1.07$0.67$0.64$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.63$2.74$1.10$0.67$0.64$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.65$2.79$1.13$0.66$0.66$0.00
2013Summary only. Only limited summary data is available for this year.$1.67$2.81$1.14$0.65$0.66$0.00
2012Summary only. Only limited summary data is available for this year.$1.72$2.86$1.13$0.65$0.76$0.11
2011Summary only. Only limited summary data is available for this year.$1.84$2.87$1.03$0.64$0.73$0.09